Just a couple of points today. Since we can’t shut the government down because that would be Unthinkable, we need to continue to borrow more money we don’t have and spend it on worthless programs we are told we need. Now don’t get get me wrong, there are things we need to spend money on, but if you look at the debt clock ticking away on this blog site, you see there is absolutely no will what so ever to reign in spending. Check this snippet out.
WASHINGTON – Congress passed must-do legislation Thursday to permit the government to borrow hundreds of billions of dollars more to meet its obligations, averting a first-ever government default that had loomed as early as mid-February.
The 64-34 vote in the Democratic-controlled Senate sent the measure to President Obama, who has said he will sign it. The Republican-led House passed the legislation last week.
The legislation would temporarily suspend the $16.4 trillion limit on federal borrowing, which experts say would allow the government to borrow about $450 billion to meet interest payments and obligations like Social Security benefits and government salaries.
So,….. we suspend the Debt limit and spend more money we don’t have. I also like how, when we are getting close to the debt limit, the President comes out and says something to the effect, ” We need to pass something or, we may not be able to send out social security checks, or pay our soldiers.” Do you ever hear them say, ” We have to pass something or we won’t get paid?” No,…..Never… Its always throwing granny or the soldiers under the bus.
So,…..here we are,… printing money we don’t have and cracks starting to appear. What are those cracks, the latest GDP figures show we are not growing in any financial sense as a country. Guess what, If unemployment needs to come down, it won’t be with a stalled economy. Here’s another one. While most people are not aware of this, more and more people are now looking to preserve their money’s buying power by purchasing precious metals. In the month Of January the mint has sold over 7 million Silver Eagles, a new monthly record for the USA. We also receive word today that we have a huge number of investors standing for delivery on the Comex Exchange. It has been reported that investors bought 43 tons of gold for the month of January, a new record for a single month….But hey….Nothing to see here….move along.
Okay , so the reason I mention these last two Items is, some people are not fooled by the Clowns in Washington or the Main Street Media who are complicit. They see what is happening. They see the government printing 85 billion dollars a month out of thin air. They see an increasingly dysfunctional Senate and Congress who can’t, or won’t, do the right thing by reigning in spending etc. We see a President who is detached from reality. What we really see is, the oblivion express rolling down the tracks at a high rate of speed and five miles down the road the bridge is out.
If you…are at all concerned, you need to call, email and write your politicians and make your views known. Let me repeat what I have mentioned in other blog post. If you think this will end well, I have news for you. The laws of sound finance have not been canceled just for us….Really….. You can’t spend massive amounts of money you don’t have and expect this is going to end well. It won’t. In the mean time, we are rolling down the tracks going 90 miles and hour and the bridge is out. What are you going to Do????